Probate
Our fees in uncontested English estates are based on a 'time spent' basis, dependant on the hourly rates of the member of JPC's private client team carrying out each aspect of the administration.
Their profiles are below:
As estates differ in value and complexity, it can be difficult to provide standard costings without being aware of all parameters. However, some sample estate pricing is set out below. These costs are based on hourly charge out rates between £150 and £350 plus VAT and disbursements.
For your information we use the term 'disbursements' to mean any costs or expenses paid or to be paid to a third party on behalf of a client (including any VAT element) except for office expenses such as postage and courier fees.
Our fees and pricing do not include VAT. When applicable, VAT will be applied at the rate of 20%. VAT is charged at the standard rate the details of which are found here:
VAT rates - GOV.UK (www.gov.uk).
Not all parts of the search pack attract VAT.
Once we establish the nature and value of all the assets and liabilities of an estate, JPC provide the client with a fee estimate for the administration. We are also prepared to agree fixed fees if appropriate and this is deeded to be in the client's best interest.
Having provided a fee estimate, if any unexpected issues arise in the administration process, JPC notify the client as soon as possible and amend our fee estimate accordingly, with the client's approval.
Example Range of Costs
Applying of a Grant of Probate, Collecting and Distributing Assets:
In broard terms, we anticipate the entire process will take between 30 and 40 hours of work at an average hourly rate of between £150 and £350 per hour plus VAT. The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.
Total costs are therefore estimated at between £4,500/£10,500 and £6,000/£14,000 plus VAT and typical ranges are set out below:
- A fee for obtaining a Grant of Probate for a simple estate, where there is a single property and bank account(s) is usually in the region of £1,500 plus VAT plus disbursements.
- A more complex estate, where there are numerous assets and/or a foreign element our fees can range from £2,500 up to £20,000 plus VAT.
As part of our fixed fee we will:
- Provide you with a dedicated and experienced probate solicitor to work on your matter
- Identify the legally appointed executors or administrators and beneficiaries
- Accurately identify the type of Probate application you will require
- Obtain the relevant documents required to make the application
- Complete the Probate Application and the relevant HMRC forms
- Draft a legal oath for you to swear
- Make the application to the Probate Court on your behalf
- Obtain the Probate and securely send two copies to you
- Collect and distribute all assets in the estate
Stages and Assumptions:
We will handle the full process for you based on a number of assumptions which include but are not limited to:
- There is a valid will
- There is more than one property
- There are no more than 5 bank or building society accounts
- There are no other intangible assets
- There are no overseas assets
- There are 3 beneficiaries
- There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
- There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
- There are no claims made against the estate
Disbursements included in this fee (where applicable VAT is included at 20%):
- Probate application fee of £155
- £14 plus VAT Swearing of the oath (per executor)
- Bankruptcy only Land Charges Department searches (£2 per beneficiary)
- Approximately £200 to £500 Post in The London Gazette – Protects against unexpected claims from unknown creditors.
- Approximately £300 to £600 plus VAT Post in a Local Newspaper – This also helps to protect against unexpected claims.
Potential additional costs:
- If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.
- If any additional copies of the grant are required, they will cost £0.50 (1 per asset usually).
- Dealing with the sale or transfer of any property in the estate is not included.
Timescales:
On average, estates that fall within this range are dealt with within 6 to 12 months.
Typically, obtaining the grant of probate takes approximately 3 to 9 months.
Collecting assets then follows, which can take between 1 to 6 months. Once this has been done, we can distribute the assets, which normally takes 2 to 6 months.